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Guest Post: How Monetary Policy Drives Foreign Policy
Via The Animal Spirits Page blog,
It should now be evident that America's foreign policy is to an extent being driven by our banking mess. Again and again, we see Washington, including Wall Street's handmaiden, the Fed, exporting monetary chaos implicitely in order to weaken the status of potentially competing reserve currencies:
- Wall Street sent a tsunami of bad AAA-rated mortgage debt to Europe, much to Germany, the locus of power for the Euro (and again, implicit admission of guilt is seen in the apparent fronting of billions of bailout dollars to the European banks by the Fed after the crisis);
- Washington has apparently fomented or supported a coup in the Ukraine that increases the likelihood of war in Europe dramatically therefore sending the gigantic pools of liquid financial assets in the world scurrying into the greenback and US Treasuries, which the Chinese have stopped gobbling up;
- the other factor is that the military-industrial complex needs war to get its funding, and when drone-bombing rag-heads can't provoke a serious attack, destabilizing a former Eastern bloc nation and provoking a somewhat justifiably paranoid Russian leader into military action guarantees at least a shot in the arm of crisis funding.
Russia has repeatedly stated over the past decades that an EU move on the Ukraine crosses a red line. The EU ignored the warning, and with the US's help and the ire of Ukrainians sick of a corrupt government crossed Putin's red line. What the Ukrainians want is democracy and relief from their corrupt plutocrats (see previous post's article by Paul Craig Roberts).
The US has no compelling strategic interest in the Ukraine, or in the Crimea remaining part of the Ukraine. Yes, the Ukraine has been looted by its oligarchs, just as Russia was, and just as the US is being looted by its oligarchs right now; incomes of a majority of American households are falling so the banks can collect on bad debts. It would be nice for people everywhere if they could break the grip of the plutocrats over their livelihoods. In the Ukraine, to substitute debt servitude to Western banks for the domination of the oligarchs would only accelerate the collapse of the EU. And it's not clear the EU, if it offers help, won't be ripped off by the oligarchs as well. The new government in the Ukraine has already increased the power of the oligarchs by giving them provinces to rule, so it's not clear the Western "rescuers" are even able to help solve the fundamental problem at all, and might end up losing their shirts again, as they have in Greece, Portugal, et al.
Until democratic governments around the world become strong enough to counteract the power of the plutocrats by taxing them, both their income and their wealth (as Sweden does) the revolving looting of sovereign governments and demolition of middle classes by the plutocrats and their corporations will continue.
A couple of posts ago I said the scariest thing I've heard recently was Catherine Anne Fitts saying what the world needs now is a global debt for equity swap. I should say I generally like Ms. Fitts' analysis and suspect she may even have misspoken when she made this comment. Such a move would concentrate ownership of the world's assets sufficiently to create even more of a Plantation Earth than we have currently.
She identified the problem, but not the solution. What the world needs now is a global jubilee, debt forgiveness. The debt that the Fed is shoving under the carpet via QE is what is known in banking circles as "bad debt." It is loans that never should have been made because they will never be repaid. In honest not crony capitalism such debts come out of the profits (as losses) of the banks that made them. In crony capitalism, with a central bank controlled by the banks, such debts are "paid back" by being monetized and put on the backs of the taxpayers either directly or through inflation.
The austerity programs Europe has put in place so that Wall Street and European banks can be paid back bad debts have destroyed more than one economy and more are probably yet to fall. (The idea promoted ten plus years ago of "convergence" of interest rates in the EU between periphery and core caused me to gag at the time.) Debt slavery to Western banks is not the answer. (China is apparently making similar mistakes; it will be interesting to see what they do with the bad debt. I suspect their strong central government will tell the bankers to go stuff it.) Ms. Fitts suggests that sooner or later the plutocrats will destroy the banks in order to buy them cheap and collect the rents themselves, canny suggestion indeed.
Chaos in the world = a strong dollar. Until it doesn't. Chaos has a way of being unpredictable.
Capitalism has killed democracy. "Free" markets dominated by monopolies and oligopolies are not what Adam Smith had in mind. It's time for democracy to be reborn. There are degrees of economic inequality that are simply immoral and destructive and humankind has the right to reject them. When the top 85 families own as much as the bottom 3.5 billion people, as recently reported, we have reached such a point.
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Free Akak*
*EDIT: his name was Tyler Durden.
"Until democratic governments around the world become strong enough to counteract the power of the plutocrats"
What a fucking dumb statement, the very reason the "plutocrats" exist is BECAUSE of a powerful demoCrazy. How the hell do you think these folk got there in the first place, they were VOTED into power by the idiots who believe that everyone else should pay for their lifestyle. FUCK, what a circle jerk. Can we for once settle the argument that democracy is nothing but mob rule and the birth mother of fascism. Can we agree that adults can contract for any fucking service they agree on without having Dianne Fienstien rummage through their bedroom and shake them down for a few shekels.
Fuck the state.
I agree, Booboo. I've been saying for a while now we should just go back to having kings and emperors and be done with it.
The sheep now feed only at the trough. They don't even venture out in the meadow any more. They were told the grass was sour and there were wolves lurking around every tree. Far too dangerous. We need protection now, not freedom, no matter the cost.
It's all crap. We're still a super power. Death to the empire is a good thing. This credit bubble is a blessing in disguise. Maybe we can go back to being a republic. Bitches.
The gold/money/war rig:
http://www.voiceamerica.com/episode/76444/examining-anglo-american-monetary-and-geopolitical-fraud
Taxing plutocrats and giving money to governments is a sure way to create a collectivist (totalitarian) world.
You can't tax the rule makers.
0.1% are taxing top 20% income earners to redistribute to the rest of bottom 80% which keeps the masses at bay.
only way to prevent plutocracy is to divide up the power and change hands frequently. That's what empires do to conquered lands.
the swiss have it right. democracy doesn't end at the voting both. by petition the people introduce bills to be voted on.
imagine fucking that.
bill # 1 = term limits
2= equel benifits for elected SERVANTS OF THE STATE, their new title(ohiltercare)
3=corp NOT a person
4=donations limit, no fucking exceptions, abolish pacs ect. mandatory ten sentence for violation.
5=national sales tax, abolish irs(sorry all you accountants, no tit to suck)
6=edit the fed, next upon revealing the truth, return to money backed by something tangible instead of force.
7=budget is determined by receipts of national tax, smothed out by rolling average with automatic cuts if receipts trend lower. when surpluses acumulate, people decide the fate of THIER MONEY!
the republic would be run by the people that elected the servants that want the job-a check and balance by propsitions,the people...
Financial Emancipation bitches!
California has public initiatives and referenda. A more messed up place politically would be hard to find.
I would prefer not to grant the power to decide how I live to a typical voter, i.e. somebody who gets his news from "The Daily Show".
The solution is to return the U.S. to Constitutional government. Simple but difficult.
you are killing an art form with your paint by numbers, Irrational Festuring........it's Bitchez
Government is a lure Mother Nature created to catch slaves.
Wake up little dupes, freedom beckons.
Anyone care that Akak apparently has been banned? http://www.zerohedge.com/users/akak
Get the word out. This is important. Something's been "off" since March 1. Purge?
So much for ZH being different.
What is an akak?
A long time poster on this site when it was something different. I used to get in vigorous debates with him.
http://www.zerohedge.com/news/2014-03-03/ukraine-denies-russias-denial-c...
Akak
0
-6
You will be happy to know that, due to the pro-authoritarian shifts in editorial stance and popular opinions here on ZH, I will in fact be leaving. I have asked the administration of ZH to delete my account here, and in any case this will be my very last post after my four-year tenure here.
Please enjoy your Czar Vladimir fan club, of which I want no part.
like facebook you can leave but can't delete, but unlike zookerberg, Ivandjiiski is not rich
On March 14, 2006, while in possession of that material, non-public information, Ivandjiiski bought 1000 shares of Hawaiian Holdings for $4.75 a share. On March 15th, when the new financing was publicly announced, the share price of Hawaiian Holdings increased 6%, to close at $5.30. On March 21, 2006, Ivandjiiski sold his 1,000 shares of Hawaiian Holdings stock for $5.53 per share, for a profit of $780.
I think he antagonized the overlord's Chinese minions a little too much...AnAnonymous went and cried to the Chairman, who put in a call to whoever runs Teh Internets.
Clicked on your link, it says you are not authorized to view this page, that means he is banned? And might you have any idea why that is? If that's true, I'm beginning to wonder if I even want to keep coming here. He gets banned, but all the Sarah palin trolls the other day are still lurking I'm sure...we will see by the down votes I get for that...
Never could understand the hatred that woman generated.
Similarly, some guys like dildos in their asses... Just not too big. Been like this ever since the USS Limbaugh landed here and Tyler went back to being Mr. Norton counting clicks for his IKEA rewards program.
You're in line with current zh trend... Look at it as your home away from the National Review.
He wasn't banned. he quit and turned off his account. He felt ZH liked Putin too much...
I frequently post comments about Putin and Russia in this Ukraine mess and posted comments about Putin and Russia with regards to the Syria mess. I wonder if I'm one of those people considered pro Putin. while I don't really care what others think here are the facts:
1. I don't have a dog in this fight. That might be a shocking statement to some, coming from someone living in the West knowing that when the West crumbles my lifestyle will crumble with it. I know that most Americans know, intuitively at least, that they materially benefit from America's Empire. but I know that America's Empire harms me and other larger ways including its constant war on my natural rights. so I endeavor to point out when America's tactics which it has used for the last 50 years or more get turned around and used against her Icannot help but note the irony.
2. I have previously pointed out how the Russians for decades deployed diplomats to deal with the West who had decades of international diplomatic experience. Putin himself has decades of international experience dealing with the West. our system in marked contrast produces a new cadre of idiots every four years who are like children upon the world stage. our children have been able to get away with their child like worldviews and behaviors because they were backed by our economy which backed our military. now that the politicians have successfully destroyed the productive economy and over deployed the military trying to increase and maintain Empire the game has changed dramatically and our diplomats' shortcomings are now being made apparent to us. this should come as a surprise to no one but for some reason most are shocked by it.
3. as Judge Napolitano recently pointed out Putin is a torturer a murderer and a criminal. those things can also be truthfully said about recent American presidents. there is nothing admirable here.
4. depending on whose number you believe the Russians sacrificed nearly seven hundred thousand troops in the Battle of Smolensk in order to slow the German advance and protect Moscow. anyone who believes Putin is going to roll over for the likes of Barack Obama is a f****** moron.
They are not banned, they simply move on to greener pastures. If you don't sign in once and a while, strange things happen to you around here.
You are not authorized to access this page.
This is the message I get when following your link.
Anyone know why Akak was banned? He had been around a long time.
National Blessing writes a good blog, fishez!
I wrote a piece in tribute to his. I decided to take a crack at talking about my day. Nothing that interesting. Nothing really new, well, in Peru but that´s it.
You don´t want to read it? I don´t care.
"A Tribute to Another Blogger"
http://tinyurl.com/lwn2shy
There's a lot of fucking dumb statements in this article. There's some good stuff too. It reads all mixed up and ambiguous like the muddle-headed thinking of someone new to econ.
He certainly isn't someone with the acumen to be criticizing the thinking of Catherine Austin Fitts with sweet fuck all provided to back up that criticism. He even recommends a debt jubilee, which besides being impossible for a debt-based currency system, is a sure-fire guarantee of hyper-inflation (I should know). And no mention of precious metals or the gold standard. He admires a strong central government in another comment... and then recognizes that this is crony capitalism... yep, muddle-headed.
He sounds like he is getting it (slowly), but is by no means an authority of any sort and really isn't deserving of having his thoughts re-published by ZH. I hate saying that as I appreciate almost everything published here, whether I agree with it or not, but this piece was a bit facile and naive.
the solution is every voter has the right to sold his vote to the highest bider.
It really doesn't matter.
Any flourishing democracy will soon be destroyed, by the in-flow of the Zionist Talmudic Tribes into it.
These fuckers have their own code, and that is the sub-jew-gation of the masses, using currency and wars. It has been their way for thousands of years - and the experience of destruction beats anything constructive ideas or ideals we might have.
Therefore, "the masses" winning is neither possible or realistic. The real goal should be to avoid defeat - i.e. to never surrender to the parasitic tribe.
The solution is simply non-alliance to these scumbags. The good news is, you're here - on Zero Hedge (and you've probably read/seen fight club), so this gives you an edge.
Don't play inside the system. Don't be a sucker thinking the US Govt and the Army it uses are part of the Real America or the wider "free" world. Don't support your jailer by giving taxes hand over fist. Self incorp, find any means to legally avoid taxation - that's a start.
And, stack on - because history has shown us that the zionist talmudc tribe only talks down gold so that they can take it from you in exchange for cheap paper!!!
1. Keep issuing fiat currency
2. Use Wall St and MIC to export said fiat.
3. Pass GO, collect $200M bonus, enjoy life.
4. Rinse and Repeat.
pretty much. you could argue "the war isn't big enough." we had stupendously high tax rates for WWII. Of course wage and price controls, recycling, Rosie the Riveter.
Something isn't working when you have this much debt.
The amount of oil currently off market is simply staggering.
Libya, Iraq, Venezuela, Kazakstan...that's four million barrels of oil a day right there.
Look at British Petroleum...the company is getting looted.
Somehwere in here is a slew of "not so funny but in fact hilarious oil prices are so high" jokes.
No, tell me it ain't so, that socialist Sweden could be a model for how to limit the vampire squid corporations.
since Olaf Palm death, Sweden left the group of independent free country
Another great leader asassinated in the name of corporate fascism.
So you want the governments to have even MORE power to tax?
Thank you. The state is nothing but an organized system of theft and coercion brought about to stop... theft and coercion. The market's self regulating mechanisms uninhibited protect people better than could any bureaucrat.
The U.S. is not a good place to do business. It is increasingly fascist that's part of why stocks are soaring; SMEs can't compete so these big companies LIKE regulations as only THEY can handle the cost.
Count me in on both above comments. That's it exactly.
I'm in.
"Drapetomania was a supposed mental illness described by American physician Samuel A. Cartwright in 1851 that caused black slaves to flee captivity."
http://en.wikipedia.org/wiki/Drapetomania
In our current era, anarchy correlates with drapetomania and all of the government lovers are Samuel Cartwrights.
It is interesting to note that the dupes think that are enslaving the other guy, but are in fact enslaving themselves.
Good to know.
I thought it was this:
http://www.standlikearock.net/wp-content/uploads/2010/02/obama-hanging-c...
Exactly. You know who loves high taxes and lots of regulations? Very rich people and big corporations. This guys article sounds like it was written by a young, naive occupy Wall Street type that thinks the answer to banks having to much power is giving the govt more power....which is controlled in large part by, you guessed it, banks/fed. When you are dealing with a revolving door circle jerk like that, taking power from one and giving it to the other accomplishes nothing because they are essentially the same.
Is no so linear, without removing Glass–Steagall Act of 1933, I think the wall street wouldnt get so powerful to caused the 2008 subprime crisis with impunity or the damage would not be so horrific. Allowing Banks to turn to casino (merging it with investment banks) turn out to be fatal to tax payer. Even Reagen with his deregulation fever didnt touch Glass- Seagall. and less war less taxes.
So... socialism = democracy = good. got it. Go fuck yourself.
Democracy=mob rule. Even monarchy at least the govt is privately owned in some ways, and there is a vested interest as the monarch reaps what he sows and thus foreseeably cares about investment and long term growth.
Democracy=mob rule. Even monarchy at least the govt is privately owned in some ways, and there is a vested interest as the monarch reaps what he sows.
Thats so nice he said it twice!
"Capitalism has killed democracy. "Free" markets dominated by monopolies and oligopolies are not what Adam Smith had in mind. It's time for democracy to be reborn."
Democracy is what killed our Republican form of government. The animal spirits never read the US Constitution I guess.
Free market is "Private gains Private losses" all else is confusion. Giving taxpayer money to private banks is not capitalism.
"Capitalism has killed democracy."
Think it was is the other way around in the USSA. Republic was replace with 'democracy'. Democracy killed Capitalism and installed Fascism in its place. Fascism is where we currently are and the reason for the accumulation of wealth at the top.
Always remember this fact...even as ZH is getting torn apart.
It is a crazy crazy situation and time where we are now living. We are seeing a Seinfeld/Superman bizarro world where, right is wrong, good is bad, rich is poor and truth are lies.
This cannot go on indefinitely. At some point there has to be a reset, a false flag event, bigger and more catastrophic than the last.
If I was a betting man, looking at the present situation with the Ukraine I won't be surprised to see The US EU and NATO gather up a bunch of patsies, cut their hair, make em shave, dress em up real good like and, make em look like an Army.
Continue the barage of bullshit via the media, and push Putin to the point where Russia feels like their existence is questionable where, they fire off Nuclear weapons or, weapon. One would be enough!!
Then, the US EU, NATO forces would have the moral authority to take out Russia, (Syria would collapse), and Iran while they're at it and it is Global checkmate
And how does the chinese fit into this scenario?
Well, we'll always need a baddy.
The error was that the US Congress gave up the power to print currency to an independent-of-the-voters central bank. What Congress gaveth, Congress can taketh back. That includes all the deposits at the Fed, which are from the Fed "printed" gains of the banks. Congress could destroy the Fed's "printed" largess. Let bankers earn their income the old fashioned way, not by "printed" dollars.
Yes, under a "democracy" they voted for this.
Fuck the state
-
they could vote for the war.
something tells me "spying on the Senate Intelligence Committee" isn't the brightest move. If they aren't safe...who is?
The error was an error in thinking that government is needed and/or beneficial.
It is in no way either of those.
The error was in 'interpreting' the Constititon. It is written in words and has a definitive meaning. It can't be 'interpreted'.....It can be changed, so if that is what anyone wants, then vote and change it....but don't 'interpret' it.....
Do you agree: I reckon that USA is substantially limited by its leadership wanting to keep out of sight the following.
The Public Be Suckered
http://patrick.net/forum/?p=1230886
All of these machinations are leading to world government. That’s why the international bankers and business cartels want world government—so they can use an international central bank to apply political pressure.
And that pressure would erase sovereignty, would collect all resources for the world empire, and would dictate control of all labor at a price the empire will decide. In short, it would convert all governments to world socialism which they would control.
It’s all so simple. They want ultimately to be to the world what John D. Rockefeller Sr. would be to Standard Oil; they want to control everything—the resources, the price, the labor.
And if you have a masked horseman such as Putin who doesn’t want to play your game, you’ve got to overcome him.
Alrighty! Democratic Socialism with Swedebots. The Evil Rich have corrupted the political class. Therefore if we destroy the rich, politicians and bureaucrats won't be able to be corrupt. By default they'll be honest and good resource managers. Ya know, like Venezuela.
Renovate Teddy anti-trust law in msm, no more 5 t0 7 wall street mega-corporate media. break it to a 100 or 200. Establish and corresponding religious confession quote for public jobs. Try to inluence Nobel comittee to do the same. Could any one check out what is the proportions of jews in Congress, Hollywood, Media, Mafia, FED and nobel economy prize? With a 1% of the population, v.g., how many Fed Presidents post they occupied sincce 80s; Treasurer; Congress; ambassador; TV and journalists? with Mafia, the problem is more delicate, their is no official contact between the government and their syndicate so it must be more subtlel and informal the changes to implement.
Excellent article except this part: "and again, implicit admission of guilt is seen in the apparent fronting of billions of bailout dollars to the European banks by the Fed after the crisis"
Through the pain experience in my country i dare say "fronting of billions of bailout dollars to the European banks by the Fed after the crisis" with US tax payers money was to buy EU banksters services and collusion to further looting the resources of the countries (those chosen people never would feel any guilt to others fellow human beings miseries). V.g., changing governments to let in IMF with programs of privatizations and with Soros and his project syndicate to dissemiante rumors etc., Goldwoman Sach men got the post in EU central bank (Draghi); Greece PM; Italy PM, etc.
Soros and the jews eco-gurus Rubini, Wolf; Krudman, larry Winters, etc. passing all the years of 2009-10 to vaticinate the desintegration of euro in every major newspapers, Big 3 rate agencies gave the rating of BBB, descending from A to BBB in a week, to many countries, driving up the sovereign bonds rate to record high and the price of those bonds to junkies status. It is a known fact that the normal investments funds and pensions funds are obliged by law to not own risky investment, so when those agencies rate the bonds lower than AA or A, those funds had to sell it, making a colossal loss of valour in just a month. Than who bought the junkies status sovereign debts? Hedgefunds and banks, etc.
Yes, good point. Give me credit for irony.
Your comments are among the only ones that don't seem to be paid disinformation on a kindergarten level.
Cheers
B9
Akak was miffed that some are able to see the Russian pov, western hypocrisy, and doubt the latest failed state "freedom fighters" entrants? I'll repeat myself.
Mirror, mirror on the wall, who's the most benevolent despot of them all?
Debt Jubilee!!!
After 2008-2009 the West has lost every speck of legitimacy.
If you aren't in the West (U.S.A., EU., Japan) run for the hills! Run for your lives!!!
These people in charge are BLOOD SUCKING WHORES WHO RESPECT NO FAMILY OR INDIVIDUAL!!!
"the West (U.S.A., EU., Japan)" even this concept is misreading by empire propaganda. USA, EU, Canda and other western european countries are the West, culturally and geographically. Australia and NZ are culturally the West. But why Japan? The only denominator that could included Japan in the group is economy (developed country) Another one is having american military bases. Argentina or Brasil are more "West" than Japan.
Central bank hegemony, sacrificing productive capacity and employment for the corporatocracy, the kleptoligarchy.
Australia is a patsy west country for sure but NZ is a thorn in the side of the West thru their continual, insuffrable pacifism. Not that many take much notice.
Mind you, if there was some real trouble, they would be quick to join the good guys and build some bombs and offer some young cannon fodder to the cause.
So the answer? Moar taxes. hahahhaa
OT
Ooops
PIX 1: http://www.gadling.com/photos/mount-paekdu-the-holiest-site-in-north-kor...
PIX 2: http://asiansecurityblog.files.wordpress.com/2012/09/north-korea-2012-34...
"Fuck YouHans Brix! Where my Rybian oil!"
"Capitalism has killed democracy."
NO, people believed that they had enough Democracy that it was sacrosanct, inviolable. That's what killed it, the belief that it was 'low maintenance'; it didn't need our attention.
Or, "it's God's wrath", for far too many ninnies here.
This is true.
Human nature. Full bellies and wallets cause myopia to the rule bending and Machiavellian machinations until it becomes 'normal'.
Empty wallets and bellies improve vision acuity, but you won't like what you finally see. No buds to nip when you're surrounded by the jungle.
Machete time.
If/when china goes tits up...they won't take it lightly...war will be a sure thing...maybe even nuclear war.
What about Russia? India? Iran? Heeelllllooooo.... Is there anybody out there? PF
The US has no compelling strategic interest in the Ukraine
You mean BESIDES world domination of the dollar and western control of resources and crushing of all dissent?
"what the world needs now is a global debt for equity swap"
Preparing something sinister? Say, US swapping her debts for....the interests of 99sheeps?
It seems to me that the bigger goal is to constantly separate people through temptation. The wealthy are separated from the balance of people by systematically giving them increasing amounts of money, creating greater and greater wealth disparity and then telling the wealthy that because of it they are superior. In the same way politicians are controlled by promoting them as a separate privileged ruling class from the people, police are separated from the people by militarizing them and giving them rights to bully and control at the point of a gun making thee people unable to relate to them, the media is told that they are a superior breed with the power to control the minds of people through propaganda, academia is told that they are elite and separate from the masses because they are smarter (and so must prove it through control of thought), the religious are told they are the closest and favored of God (so mut maintain this separation) and the intelligence community is told that they are are the only ones that can be trusted and therefore have a right to distrust all others. The carving off of elitist groups is a divide and conquer tactic used to keep the people weak and fighting amongst themselves. People controlled in this way are not a threat to the real power that seeks to rule over them. People will go to extraordinary lengths and rationaliation to believe themselves special.
Without meaning to argue with you, reading your post I felt like you were just describing basic Human Nature
Yes! And I retain a hope that humankind can learn and improve, we've just gone way off the tracks thanks to the entirely natural tendency of people with too much power to abuse it while "the group" is still trusting them to behave like faithful members. There will always be government; it would just be nice to have one that works.
Cheers,
B9
When do we stop this discussion and do somthing about this?
We prolly won't, but someone will, put a stop to it all.
The US was never a democracy nor a republic and never had free market capitalism nor espoused it. The US political system has always been an oligarchy regardless of what they pretended it to be. The economic system was whatever suited the oligarchs at that time. The oligarchy is no danger of being overthrown since most don't even recognise it as such.
Capitalism has killed democracy.
REALLY? We don't have any fucking capitalism. What a fucked up statement...
What we need is the kind of govt contemplated by the Founders, only with even more individual freedom.
The kind contemplated by Ayn Rand.
Every other kind is just some exploiting others with force.
This is to be expected, that foreign policy is being driven by monetary policy, which is being driven by the banking crisis, which is being driven by resource depletion.
Got that?
It really isn't that complicated.
As passed by the Congress and preserved in the National Archives:
As ratified by the States and authenticated by Thomas Jefferson, then-Secretary of State:
I'm sure that the dickhead author of this nonsense would be delighted to take control of those wealth taxes and distibute them with perfect equity, having taken out a small fee for his efforts ... up front ... of course.
Stupid from beginning to end.
What's "equitable" about stealing wealth from those who produced it and giving it to others who didn't?
Usually in exchange for their vote.